Aon plc Stock Forecast
Is Aon plc stock still a buy after falling -6.85% on Friday?
(Updated on Apr 26, 2024)
The Aon plc stock price fell by -6.85% on the last day (Friday, 26th Apr 2024) from $306.00 to $285.03. It has now fallen 3 days in a row. During the last trading day the stock fluctuated 6.65% from a day low at $268.06 to a day high of $285.88. The price has been going up and down for this period, and there has been a -7.46% loss for the last 2 weeks. Volume has increased on the last day by 3 million shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 5 million shares were bought and sold for approximately $1.30 billion.
Given the current short-term trend, the stock is expected to rise 2.77% during the next 3 months and, with a 90% probability hold a price between $292.93 and $346.20 at the end of this 3-month period.
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AON Signals & Forecast
There are few to no technical positive signals at the moment. The Aon plc stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $305.95 and $317.41. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Wednesday, March 27, 2024, and so far it has fallen -14.61%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Aon plc stock
There is no support from accumulated volume below today's level and given the right condition the stock may perform very badly in the next couple of days.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $17.82 between high and low, or 6.65%. For the last week, the stock has had daily average volatility of 2.27%.
Aon plc is oversold on RSI14 (15). Some stocks may fall long and hard while being oversold on RSI, but stocks that are heavily oversold on RSI often pose good re-bounce chance and played well it can be a buy candidate.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (AON) For The Upcoming Trading Day Of Monday 29th
For the upcoming trading day on Monday, 29th we expect Aon plc to open at $279.66, and during the day (based on 14 day Average True Range), to move between $278.06 and $292.00, which gives a possible trading interval of +/-$6.97 (+/-2.45%) up or down from last closing price. If Aon plc takes out the full calculated possible swing range there will be an estimated 4.89% move between the lowest and the highest trading price during the day.
With no support below and resistance from accumulated volume @ $292.40, some $7.37 (2.59%) from the current price of $285.03, our system finds the risk reward not very attractive.
Is Aon plc stock A Buy?
The Aon plc stock holds several negative signals and despite the positive trend, we believe Aon plc will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -3.039 Sell Candidate Downgraded
Predicted Opening Price for Aon plc of Monday, April 29, 2024
| Fair opening price April 29, 2024 | Current price |
|---|---|
| $279.66 ( 1.89%) | $285.03 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for AON
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 297.48 | 4.37 % | |
| R2 | 290.67 | 1.98 % | ||
| R1 | 286.46 | 0.503 % | ||
| Current price: | 285.03 | |||
| Support | S1 | 272.85 | -4.27 % | |
| S2 | 268.64 | -5.75 % | ||
| S3 | 261.84 | -8.14 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 318.99 | 11.91 % | |
| R2 | 314.77 | 10.43 % | ||
| R1 | 292.40 | 2.59 % | ||
| Current price | 285.03 | |||
| Support | S1 | 0 | . | |
| S2 | 0 | . | ||
| S3 | 0 | . |
AON Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 30, 2024 | Apr 30, 2024 | May 15, 2024 | $0.675 | 0.237% |
| 2 | Jan 10, 2024 | Jan 31, 2024 | Feb 15, 2024 | $0.615 | 0.196% |
| 3 | Oct 13, 2023 | Nov 01, 2023 | Nov 15, 2023 | $0.615 | 0.187% |
| 4 | Oct 13, 2023 | Oct 31, 2023 | Nov 15, 2023 | $0.615 | 0.187% |
| 5 | Jul 13, 2023 | Jul 31, 2023 | Aug 15, 2023 | $0.615 | 0.194% |
FAQ
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